When will I receive the second cost of living tax credits payment? Date £324 will start being paid this week

The Cost of living payment of £650 has been presented by the government earlier this year to help UK households fighting with galloping inflation and energy price.

This was split into two installmentswith the paid for the first time between July and Septemberand the final grant coming in November.

Most eligible groups for the the second part of the payment of £650 should have received it already, according to government schedule.

However, the rollout has not yet started for people who are eligible only through tax credits – here is all you need to know.

When will I receive the second cost of living tax credits payment?

Final payments are sent in two stages, with the majority of applicants – those who receive low-income benefits like Universal Credit – included in the initial deployment.

According Government guidelinesit started on tuesday november 8, and turn to Wednesday, November 23, 2022. This initial deployment period covers applicants who receive:

  • Universal Credit
  • Income-Based JSA
  • Income-related AES
  • Income support
  • Pension credit

Safer Cost of living crisis

The DWP said some of those claimants could be paid after Nov. 23, but only in “a small minority of complex circumstances.”

For people who are only eligible through tax credits, the second phase of payment must take place between Wednesday, November 23 and Wednesday, November 30.

Applicants who receive both HMRC tax credits and DWP low-income benefits will only be included in the initial rollout of the second payment.

The first installments were also staggered, with both groups receiving the grant in the same order.

For people on low-income benefits, the first £650 payment started automatically landing in bank accounts from Thursday July 14 From.

Those eligible solely through tax credits received their first payments between Friday 2 and Wednesday 7 September.

To reduce the potential for fraudinstead of his two installments being of equal amounts, the first part of the grant was £326and the second is £324.

If you are eligible for payment you don’t need to apply – the £650 should be submitted to you automatically and should appear in your bank account with the code “DWP COL” or similar.

The grant is tax-free for all eligible groups, does not affect the benefit cap, and will not affect existing benefit allocations.

What is the new £900 cost of living payment?

In his fall statement Thursday 17 November, Chancellor Jeremy Hunt announced that he extend cost of living assistance.

He confirmed that this would include a further payment of £900and it is believed that it will work in a similar to the existing grant of £650.

The payment is expected to apply across the UK for people on means-tested benefits. This includes all households receiving the following benefits:

  • universal credit
  • income-based jobseeker’s allowance
  • income-related employment and support allowance
  • income support
  • pension credit
  • work tax credit
  • child tax credit

Payments will again be made in installments. The Department for Work and Pensions (DWP) and HMRC said they would provide more details on the timing of these payments and eligibility dates in due course.

This payment will once again be non-taxable, will not count against the benefit cap, and will not impact any existing benefit allocations.

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Elaine R. Knight